SPONGE (SPONGEUSDT) Price Experiences a Pullback Towards $0.000886 Level
Login

SPONGE (SPONGEUSDT) Price Experiences a Pullback Towards $0.000886 Level

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Bears’ pressure increases

Sponge Price Analysis – 20 January

The bulls may be able to hold onto their edge in the market if the Sponge breaks over the $0.000998 barrier level and runs into resistance between $0.001158 and $0.001298. If the $0.000886 level persists, the price can fall to the support levels of $0.000695, and $0.000577.

Sponge/USD Market

Key levels:

Resistance levels: $0.000998, $0.001158, $0.001298

Support levels: $0.000886, $0.000695, $0.000577

SPONGEUSDT Long-term Trend: Bullish

Bullish on the daily SPONGEUSDT chart. Bears should be wary of the triple bottom chart pattern, which emerged at the $0.000356 support level. The currency rises northward like an eagle as a result of this. The price surged to the top of the $0.001298 barrier level after breaking through the prior resistance levels of $0.000886, $0.000998, and $0.001158. It retreats in an attempt to retry to reach the shattered $0.000998 level. It’s getting close to the previous high of $0.001298 at this point.

Buyers are making their way back into the SPONGE market after the slump. The indicator’s upward trajectory and the price’s trading above the Hull Suite signal indicate a bullish trend. The bulls may be able to hold onto their edge in the market if the price breaks over the $0.000998 barrier level and runs into resistance between $0.001158 and $0.001298. If the $0.000886 level persists, the price can fall to the support levels of $0.000695, and $0.000577.

 SPONGEUSDT medium-term Trend: Bullish

The 4-hour SPONGEUSDT chart is in an upward trend. Even though the bulls are under growing pressure, the medium-term trend is still strong. The $0.001298 resistance level is tested when resistance levels such as $0.000998, $0.000577, and $0.001158 collapse. The price is returning to the former high of $0.001298 while remaining at the previously indicated level.

Given that the price is above the Hull Suite indicator, the market has significant momentum. Because the currency pair is trading above the indication, the market is favorable. A buy signal appears when the QQE MOD indicator is higher than zero.

Join the takeover to avoid missing out!

Invest in the hottest and best meme coin. Buy Sponge ($SPONGE) today

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News